VANDO HOLD: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
VANDO HOLD
Largest movements
- Financial fixed assets +€1.4m
up €1.4m (+268%), from €506,942 to €1.9m
- Contributions +€1.4m
up €1.4m (+759%), from €179,119 to €1.5m
- Profit (loss) carried forward +€120,881
up €120,881 (+90.7%), from -€133,313 to -€12,432
- Other debts -€110,075
down €110,075 (-14.7%), from €749,952 to €639,877
- Financial income +€102,361
up €102,361 (+1,482%), from €6,908 to €109,269
- Gross operating margin +€7,421
up €7,421 (+149%), from €4,978 to €12,399
- Taxes -€2,072
down €2,072 (-100%), from €2,072 to €0
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €956,651 | €2,332,492 | +€1.4m | +144% |
| Fixed assets | 21/28 | €506,942 | €1,865,757 | +€1.4m | +268% |
| Financial fixed assets | 28 | €506,942 | €1,865,757 | +€1.4m | +268% |
| Current assets | 29/58 | €449,709 | €466,735 | +€17,026 | +3.8% |
| Amounts receivable within one year | 40/41 | €47 | €11,918 | +€11,871 | +25,065% |
| Trade receivables | 40 | - | €9,075 | +€9,075 | |
| Other amounts receivable | 41 | €47 | €2,843 | +€2,796 | +5,903% |
| Current investments | 50/53 | €416,939 | €416,939 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €32,723 | €37,659 | +€4,937 | +15.1% |
| Deferred charges and accrued income | 490/1 | - | €219 | +€219 | |
| Total equity and liabilities | 10/49 | €956,651 | €2,332,492 | +€1.4m | +144% |
| Equity | 10/15 | €201,618 | €1,681,314 | +€1.5m | +734% |
| Contributions | 10/11 | €179,119 | €1,537,934 | +€1.4m | +759% |
| Reserves | 13 | €155,811 | €155,811 | = | 0.0% |
| Tax-exempt reserves | 132 | €39,807 | €39,807 | = | 0.0% |
| Distributable reserves | 133 | €116,004 | €116,004 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€133,313 | -€12,432 | +€120,881 | +90.7% |
| Amounts payable | 17/49 | €755,034 | €651,178 | -€103,855 | -13.8% |
| Amounts payable within one year | 42/48 | €755,034 | €651,178 | -€103,855 | -13.8% |
| Trade debts | 44 | €260 | €773 | +€513 | +197% |
| Suppliers | 440/4 | €260 | €773 | +€513 | +197% |
| Taxes, remuneration and social security | 45 | €4,822 | €10,529 | +€5,707 | +118% |
| Taxes | 450/3 | €4,822 | €10,529 | +€5,707 | +118% |
| Other amounts payable | 47/48 | €749,952 | €639,877 | -€110,075 | -14.7% |
| Other operating charges | 640/8 | €387 | €450 | +€62 | +16.1% |
| Gross operating margin | 9900 | €4,978 | €12,399 | +€7,421 | +149% |
| Operating profit (loss) | 9901 | €4,590 | €11,949 | +€7,359 | +160% |
| Financial income | 75/76B | €6,908 | €109,269 | +€102,361 | +1,482% |
| Recurring financial income | 75 | €6,908 | €109,269 | +€102,361 | +1,482% |
| Financial charges | 65/66B | €252 | €337 | +€85 | +33.5% |
| Recurring financial charges | 65 | €252 | €337 | +€85 | +33.5% |
| Profit (loss) for the period before taxes | 9903 | €11,246 | €120,881 | +€109,635 | +975% |
| Income taxes | 67/77 | €2,072 | €0 | -€2,072 | -100% |
| Profit (loss) for the period | 9904 | €9,173 | €120,881 | +€111,708 | +1,218% |
| Profit (loss) for the period to be appropriated | 9905 | €9,173 | €120,881 | +€111,708 | +1,218% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.